N.Y. General Obligations Law § 13-107: Claims or demands transferred with bond unless reserved

§ 13-107. Claims or demands transferred with bond unless reserved. 1.

Unless expressly reserved in writing, a transfer of any bond shall vest

in the transferee all claims or demands of the transferrer, whether or

not such claims or demands are known to exist, (a) for damages or

rescission against the obligor on such bond, (b) for damages against the

trustee or depositary under any indenture under which such bond was

issued or outstanding, and (c) for damages against any guarantor of the

obligation of such obligor, trustee or depositary.

2. As used in this section, "bond" shall mean and include any and all

shares and interests in an issue of bonds, notes, debentures or other

evidences of indebtedness of individuals, partnerships, associations or

corporations, whether or not secured.

3. As used in this section, "indenture" means any mortgage, deed of

trust, trust or other indenture, or similar instrument or agreement

(including any supplement or amendment to any of the foregoing), under

which bonds as herein defined are issued or outstanding, whether or not

any property, real or personal, is, or is to be, pledged, mortgaged,

assigned, or conveyed thereunder.